European shares drop as banks and tech stocks weigh

Bank, tech stocks pull European shares down

Cecilia Poole
|
13 April, 2017, 01:00

This follows news last week that Apple will stop using graphics chips from another British firm, Imagination Technologies, in the next two years. Apple is said to be developing the new chip in its research facilities in California and Munich.

Therefore, even a small shift in Apple's future production needs, if the company begins to make chips in-house, could significantly impact Dialog.

The company will, according to the report (via Reuters), look to replace power management chips which are now supplied by Dialog Semiconductor. If done correctly, Apple could create an iPhone that is more battery-efficient than the competitions which would certainly give the company an advantage.

Dialog is yet to confirm whether the analyst's claims are accurate or not, but its share price has fallen since the report emerged.

It would mean Apple calling time on its existing arrangement with Dialog Semiconductor, which makes chips for existing iPhones. It said in a statement that it knows of "no business reason" for the stock movement, adding that it remains comfortable with its prospects for the year. "They are poaching like insane", the person said. Luxury goods group LVMH LVMH.PA hit a record high, sending its shares up 1.7 percent after reporting a surge in first-quarter sales that beat analysts' forecasts.

Synaptics was a supplier for Apple back in the iPod click wheel era, but Apple subsequently transitioned away, according to The Motley Fool.

Apple would need to hire more than 1,000 engineers to completely replace the power management chips supplied by Dialog.

Apple's move isn't too surprising considering the company is famous for its desire to control every aspect of its products from software, to design and hardware.

In 2014, merger talks between Dialog and Austrian sensor chip maker Ams AG fell apart after they failed to come to terms.

The company's stock sank 36 percent at the start of trading.

Dialog, which supplies chips to Apple's iPhones and iPads, employs about 1,300 engineers, predominately in the United Kingdom.

The news that Apple might be shifting towards a more self-reliant chip production model has slightly scared the semiconductor sector as a whole.

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